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ICAEW Business Confidence Monitor: national

The latest ICAEW Business Confidence Monitor (BCM) shows that business confidence, although still negative, has not fallen significantly this quarter despite ongoing Brexit uncertainty. The latest findings highlight the impact that stockpiling had on GDP, and how this could impact overall growth for the rest of the year.

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Q2 2019 UK Business Confidence Monitor.


Key findings this quarter

  • The confidence index remained at -16.6 this quarter, similar to -16.4 in Q1

  • There is evidence of Brexit-related precautionary stock-building, which probably temporarily boosted GDP

  • Companies report slow and steady sales growth, with no major improvement expected in the year ahead

  • Costs are rising slightly above selling prices, thus companies are relying on sales growth to generate increases in profit

  • Companies across the UK have spare capacity, especially in the Manufacturing & Engineering and Retail & Wholesale sectors

  • Low confidence and sales growth, plus widespread spare capacity, are holding back all types of investment


Research methodology

Find out about the research methods that underpin the ICAEW Business Confidence Monitor.

Using BCM data

If you'd like to use this data in a publication or share it with clients, please tell us in advance by emailing bcm@icaew.com, and make sure to reference 'ICAEW Business Confidence Monitor' in full whenever you are citing the data.

Taking part in the BCM

If you're an ICAEW member working in industry or commerce you might be called to give an opinion on the economic prospects facing your organisation - please spare a few minutes to take part. Your views will provide information on matters of key concern to a broader businesses community, policy-makers and the media. You'll also be helping ICAEW to promote Chartered Accountants as business people with a serious contribution on business, finance and economic issues.